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Bulgaria's Petrol skips dividend for 2019

Oct 1, 2020, 2:22:14 PMArticle by Mario Tanev
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October 1 (SeeNews) - Bulgarian fuel retailer Petrol [BUL:5PET] said on Thursday that its shareholders have approve its plan to skip dividend distribution after generating a standalone net loss of 5.3 million levs ($3.2 million/2.7 million euro) in 2019.

Bulgaria's Petrol skips dividend for 2019
Photo: Petrol / All rights reserved.

Petrol's shareholders approved the proposal at a general meeting held on September 28, the company said in a bourse filing.

The company also skipped dividend distribution for 2018, when it posted a net loss of 6.4 million levs.

At the end of 2019, the company had accumulated losses of 109 million levs.

Petrol operates over 300 fuel stations in Bulgaria.

(1 euro = 1.95583 levs)

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